Green Rock Energy (GRK)

Shares / Stock Code

GRK

Stock Exchange / Sharemarket

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Green Rock Energy (GRK) is focused on becoming a major producer of clean, renewable geothermal energy by generating base load electricity from the heat retained below the earth's surface by hot dry rocks. The company also plans to pursue other opportunities in the growing "green" energy sector. The company was listed on the ASX on 10 December 2003. It was previously called Mokuti Mining Limited.

In South Australia, the Company has seven geothermal exploration licences (GELs) totalling 2,897 square kilometres and two GEL applications surrounding Olympic Dam Mine and the Roxby Downs township. During the fiscal year ended June 30, 2008 (fiscal 2008), the Company established Central European Geothermal Energy Kft (CEGE), in joint, 50%, ownership with Hungary’s principal petroleum and energy company, MOL plc., which holds the hydrocarbon tenements in Hungary. During fiscal 2008, the Company was granted 11 GELs in the Great Artesian Basin covering 5,028 square kilometers.

GRK was the first to apply for a geothermal energy exploration licence in Australia. Geothermal energy has the potential to provide a commercially viable, long-term energy source. GRK's tenements are situated next to the Olympic Dam mine in SA. This is of great importance as there is an existing power grid at the site, which enables GRK to supply energy to the national power grid.

Its customers include households, retailers and bulk purchasers of electricity. Competitors include other producers of renewable energy.